Need Based Financial Assistance (NBFA)

Need Based Financial Assistance

IIM Indore extends financial aid to the participants in need of financial assistance. The objective of the Need Based Financial Assistance (NBFA) at IIM Indore is to ensure that no participant is deprived of education at the institute for financial reasons.

All participants admitted to the Post-Graduate Programme in Management (PGP), PGP HRM (PGPH) and Integrated Programme in Management (IPM) with annual family income below ₹ 12, 00,000 are eligible to apply for financial aid.

The NBFA Committee undertakes a two-step process for deciding the number of awardees and quantum of aid. The actual NBFA awarded would be a percentage of the maximum amount of financial assistance the institute decides to offer to a participant in the year. This would be decided on year to year basis. The percentage would be decided based on the family income and assets of the participant’s family. Disciplinary records of the participants will also be considered while awarding NBFA.

In the first stage, the participant’s financial need will be assessed by evaluating the application submitted by the participants. Second stage, based on the first stage assessment, some of the participants are called for a personal interaction with the NBFA Committee. During this interaction, NBFA Committee evaluate the financial need of the participant, as well as verify the genuineness of the details provided by the participant in the application. Based on the outcome of the above, applicants are provided financial assistance.

Important Notes

• The application forms have to be completed in all respects and submitted along with the documents specified therein.
• Incomplete Application forms will not be considered. Applications submitted after the due date will not be considered.
• Please read the application form and instructions carefully. Your parent/ guardian will have to fill up part of the form and sign it.
• The Institute reserves the right to investigate/ verify the details mentioned in the Need Based Financial Assistance application forms.
• The NBFA Committee reserve the right to award the Need Based Financial Assistance. The decision of the NBFA Committee will be binding and final.
• The Director, IIM Indore is the Appellate Authority for NBFA.